I have to give a presentation about a topic in stochastic processes. Any ideas?
I have to give a presentation about a topic in stochastic processes. Any ideas?
Markov Processes or Markov Chains are a good topic. They are simple to explain and you can find some nice examples. Google will yield some ideas.
Control charts with rules, such as 3 consecutive in the warning zone, are good examples of Markov processes. Easy to explain, though I have never tried to do that.
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